Recovery? Cedi records slight gain against dollar

Ghana's cedi showed signs of stabilising against the dollar on Saturday

  • Published:
24/7 Live - Subscribe to the Pulse Newsletter!

The local currency has recorded a slight gain against the US dollar when it closed trading on Saturday gaining Ȼ3.999 in value over the greenback.

The local currency has fallen 22 percent since January, one of the sharpest declines in Africa.

The cedi's strong performance is in marked contrast to what the market has become accustomed to over the first half of this year, when the cedi depreciated by more than 26 percent against the US dollar.

The blighted currency on July 2, 2015 made a 3.5 percent gain over the US dollar - but that record was even better the following day when the cedi recorded a stunning 4.2 percent gain against its major trading partner to bring down the level of depreciation against the dollar to 20.4 percent from a peak of 26.2 percent on June 30.


The local currency, after closing trade on June 30 at Ȼ4.3364 bounced back at Ȼ4.1914 the next trading day, and finished the week at Ȼ4.0217. The cedi's new-found strength comes barely a fortnight after the central bank announced that it had increased its dollar sales in the interbank market to US$20 million a day up from US$14 million a week in a bid to halt the dangerous slide of the local currency.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email:

Recommended Articles

Recommended Videos

Top Articles

1 Bauxite Mining Residents walk from E/R to Flagstaff House to petition...bullet
2 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public...bullet
3 Illegal Mining 14-year-old among 10 arrested for 'galamsey' at Gomoa...bullet
4 2018 World Happiness Report Somalia is a happier place to live...bullet
5 Salaries In 2018 Here are the dates public workers will be paid...bullet
6 Corruption George Loh accuse MMDCEs, top assembly staff of...bullet
7 MoMo Ghanaians to make int’l payments with mobile money as...bullet
8 Tax Relief? Gov’t secretly replaces 1% tax relief with...bullet
9 Nepotism In Ghana NLA boss awards sister-in-law 11...bullet
10 Menzgold Ghana Investment company closes down its Gold...bullet

Top Videos

1 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
2 Forbes 2018 Africa's billionaires rich listbullet
3 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
4 Money Alert Meet Africa's richest womanbullet
5 Support Finance minister buys Kantanka carbullet
6 New Phone Nokia’s MWC 2018 event in 7 minutesbullet
7 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
8 Tech 6 reasons you should buy an iPhone SE instead of any...bullet
9 Bozoma Saint John 10 quotes from Uber top official,...bullet
10 Plane Crash Starbow suspends operations following...bullet